Transcript Math 172A lecture 1 - UCLA Department of Mathematics

Winter Quarter 2012
Professor Loong Kong
No cell phone/texting
Get Textbook
Use 3 ring binder to store handouts
Required calculator – Texas Instrument BA II+
(Regular or Pro model)
 Bring Illustrative Mortality Table to each session
 PTE for those who need to enroll
 Sign up for Piazza
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Actuary for 35+ yrs
Fellow of Society of Actuaries (FSA) since 1978
MBA, Chartered Financial Analyst, etc.
UCLA for 12 years – teach 172abc, 174
 Day job: Partner, Sunlin Consulting
 What I like and dislike about teaching
 Limited availability on campus, depend on
email, possible missed classes
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Pre-requisites – 172A, probability, statistics
Learning outcomes – SOA MLC syllabus
Texts: Actuarial mathematics for life
contingent Risks
Focus on practical application and
understanding of basic financial issues
relating to life insurance, pensions
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Informal – participation mandatory, I will called
upon you by name
You can ask questions anytime
Focus on solving problems from text and SOA
exams
Bring text and SOA questions and calculator to
every class
Prepare for each class by reading assigned
chapter and attempting home work problems
Home work assignments will not be collected
Project – get more familiar with EXCEL
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Prepare for lectures
Follow the problem solution in class
Pay attention! Don’t worry about copying
solutions, complete solutions will be posted
Memorize formulas
Work problems on your own, again and again
Use learning resources
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My office hours : Wed & Fri 2-3p MS 5222
Class webpage has handouts and solutions
Piazza – collaborative Q&A
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“Weekly” quizzes – 5%
Two “2 hr mid-term” exams – 20% each (2/3,3/2)
3 hr Cumulative finals – 40-% (3/20)
Attendance – 5% (up to two “unexcused absences”)
2 Projects - 10% (EXCEL to be submitted by email)
Participation – 5%
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“Closed everything”
Written – must show work – include calculator
entries
Ten questions – 10 points each, partial credits
I will email you the list of topics a week before each
exam
Questions can come directly from text homework
sets and SOA problem sets
Manage your time, do the easier ones first
Hard cutoffs for As (90 & above) Bs (80-90)
Curve for lower grades. 40 and under probably an F
W2011 distribution A 32%; B 25%; C 29%; D-F 14%
No make-up for missed quizzes or mid-term exam
If there is reasonable cause, 20% assigned to other
mid-term and final. Otherwise zero.
 You will have a clear idea what you need to score on
the finals to achieve specific grade
 Do not ask me to change your grade or give extra
assignment to help improve your grade
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Jointly administered by Society of Actuaries
(SOA) and Casualty Actuarial Society (CAS)
Preliminary Exams
 P – probability and statistics
 FM – financial mathematics
 MLC – life contingency models
 MFE – financial economics
 C – casualty actuarial models
 More info available at www.beanactuary.org
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Winter: 172B –Exam MLC WF 3-5p
Spring: 172C – Exam MLC WF 4-6p
Spring: 174 – Exam MFE WF 1-3p
Summer: 172A and 174 (tentative)
173 AB – Exam C to be offered in Winter and
Spring 2013
Financial Actuarial Math major planned
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Get book, binder
Sign up for Piazza
Prepare for each class